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LOUISVILLE — Yum Brands' top executive tells shareholders that the restaurant operator remains confident of reaching a target for earnings growth this year.
Chairman and Chief Executive David C. Novak says Thursday at the company's annual meeting that he is "bullish" about long-term prospects for the parent of Taco Bell, KFC and Pizza Hut. He says Yum can meet its goal of 10 percent earnings-per-share growth in 2009.
Novak says the Louisville-based company saw strong operating profit growth in its rapidly expanding China and international divisions in 2008 that offset a drop in U.S. operating profit.
He said the company's strategy includes building leading brands in its China operations, along with expanding elsewhere overseas and improving U.S. returns.
